I am on look out for some leasehold conveyancing in Monken Hadley. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Monken Hadley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Helen (my wife) and I may need to sub-let our Monken Hadley ground floor flat for a while due to a new job. We instructed a Monken Hadley conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Monken Hadley do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

There are only 72 years remaining on my flat in Monken Hadley. I now want to extend my lease but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to find the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Monken Hadley.

I am attracted to a couple of apartments in Monken Hadley which have in the region of 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Monken Hadley. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to choosing a Monken Hadley conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Monken Hadley conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Monken Hadley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the practice with lease extension legislation?
• What are the legal fees for lease extension conveyancing?

I am the registered owner of a second floor flat in Monken Hadley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the premium.

An example of a Lease Extension matter before the tribunal for a Monken Hadley residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 76 years.

I purchased a garden flat in Monken Hadley, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Monken Hadley with over 90 years remaining are worth £196,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2082

With just 56 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.